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No difference. Some companies use each word interchangeably.
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∙ 10y ago
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What is the difference between a lump sum and annuity?
The difference between a lump sum and annuity is, lump some you get a anywhere between half or 3 quarters of the money. An annuity is where you will get a certain amount of money for a certain amount of years.
Which of the following is a description of an annuity?
the insured agrees to make a lump-sum payment or series of payments to an insurance company...
What does solution to an equation mean?
It usually means the answer in a math problem. Here are the technical terms: In Addition: Sum. In Subtraction: Difference In Division: Quotient In Multiplying: Product Sorry if this isn't what you are looking for!
What is a stochastic error term?
A stochastic error indicates an error that is random between measurements. Stochastics typically occur through the sum of many random errors.
Lump Sum Present Value Calculator?
Lump Sum Present Value Calculator Use this calculator to determine the present value of a future lump sum.
What is Money Back policies?
In money back policies the some part of money is refunded to life insured. The period is generally is of 5 years and at the time of maturity; the money which is paid deducted from sum assured amount. A Money back plan is an endowment plan which combines both insurance and investment. The main objective of a money back plan is to provide fixed sum of money at regular intervals. This amount depends upon the sum assured of the individual. On maturity, the insured receives remaining portion of the sum assured and loyalty additions.
What is the difference between life insurance and health insurance?
Life insurance is a contract providing for payment of a sum of money to the person assured or, failing him, to the person entitled to receive the same, on the happening of certain event. Health insurance is a contract between the policy holder and the insurance service provider whereby the later takes the responsibility to cover the insured person against certain illness/disease as specified in the policy bond up to an agreed sum insured against payment of premium payable yearly.
Can a insured surrender a life insurance policy after the policy holder dies?
T sum assured divided by multiply no for ex... 100000 / 30=3333
What is the difference between sum and difference?
sum is addition difference is subtraction
What is the difference between policy owner and policy holder in a term life policy?
There is no difference - just two different ways of saying the same thing. However, there can be a difference between the policy owner/holder and the life assured. The policy owner/holder is the individual or company who applied for the policy and pays the premiums. The life assured is self-evidently the person whose life is insured. If the policyholder and life assured are the same person, i.e. the policy is an "own life" policy, upon their death the guaranteed death benefit, or sum assured as it is known, is paid to the deceased's estate, or into a trust if one has been set up. If the life assured is not the policyholder then the sum assured is paid to the policyholder. Only individuals or companies who have an "insurable interest" can apply for a policy on someone's life. There are a number of situations that can qualify as an insurable interest but the most common are a company taking out a policy on the life of a director or other employee, partners in a business on the life/lives of their fellow partner/s, and an individual on the life of their spouse.
What is the difference between logical sum and arithmetic sum?
ernycs
What is the difference between the sum and the total?
what is the meaning of sum? and total
What is the ideal sum insured in policy?
The ideal sum insured depends on a number of different things such Age, City & Product type etc. So every insurance company offers a different sum insured.
What is the difference between the product and the sum?
The product is what you get when you multiply, the sum is what you get when you add.
What is sum assured in insurance policy?
premium
What is sum assured in health insurance?
Sum assured is the minimum amount payable by the insurance company in case of death of the policy holder. In such case the policy holder select the sum assured or coverage. Than it is mandatory for insurance companies to pay out this sum in case of the unfortunate death of the policy holder.
What is the difference between nine thousand and the sum of 5479 and 1388?
What is the difference between ten thousand and the sum of 105 and 7589
